Owner occupied question

[Thomas Key]

I am purchasing my first property with my mum. We will both live in the property and rent out the extra room as a mid term rental. And I am taking the loan. However with work and lifestyle I’m barely home. Should this be a concern if the loan is conventional for owner-occupied? 

[Josef Hardi]

I personally don't think it'll be an issue. I think lenders are going to be too busy to check on things like this. But in case they do check, will you have some supporting documentations such as utility bills, bank statements, etc to show you are indeed residing there as your primary house?

I refinanced my primary residence, and then asked the same lender when would be the soonest I can purchase another primary residence, and they said 6 months. So seems like they are pretty flexible with the primary residence terms.

All the best!